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The previous few weeks have seen meme coins dominate the 2024 bull run, which has been nothing short of astounding. These are a few well-known meme currencies’ year-to-date returns.
- WIF (Dogwifhat): 6,843%
- Pepe (PEPE): 348 percent
- 190% for the turbo (TURBO)
- Bonk (BONK): 1 34%
- 110% Shiba Inu (SHIB)
- DOGE (Dogecoin): 73%
- Wen (WEN): 72 %
The last 63 days have seen a 6,843% increase in Dogwifhat (WIF). This is not likely to end without a significant decline in the price of Bitcoin. Furthermore, there is conjecture in the community that tier-1 exchanges may list spot trading on WIF.
Despite appearing to have rebounded significantly, meme currencies are still far from forming a peak. For instance, the price of Dogecoin increased 65,122% in just 420 days from March 2020 to May 2021.
Bitcoin’s price is comfortably above important thresholds.
The price of bitcoin increased by 22% at the previous week’s end. This event represents a 310% increase from the $15,479 low. Moreover, the last action appears to be a step towards solidifying Bitcoin’s position above $60,000. With just 10% separating us from the peak of $69,138, investors are holding their breath in hopes that Bitcoin will break through the present all-time high and establish a new one.
The testimony of Federal Chairman Jerome Powell on Wednesday and Thursday may cause the price of bitcoin to become more volatile.
Why is the Ethereum Dencun update so hyped?
With the eagerly anticipated Dencun update scheduled to launch on March 13, the price of Ethereum has surged by 57% over the past four weeks and is currently trading at $3,464. Given that Uniswap’s fee flip proposal went live on Friday and the growing DeFi excitement, ETH may see additional gains shortly.
